We’re delighted to share that Citadel Securities’ acquisition of KCG Holdings’ designated market maker (DMM) business closed this week. The move will cement Citadel Securities as the DMM with the largest footprint on the exchange, responsible for trading approximately 1,500 issuers who represent about $9 trillion of market cap. DMMs play an important role in the market by ensuring investors are able to efficiently trade many of the world’s largest and most recognizable public companies.
In a letter to clients today, Jamil Nazarali, the head of Citadel Execution Services, noted:
“We are excited to bring our world-leading market making expertise and trading acumen to the floor of the NYSE by representing some of the largest public companies as DMM. At the same time, we will continue to maintain our focus on providing you with exceptional execution quality and unparalleled service as we maintain our commitment to ensuring better outcomes for all investors in our financial markets.”
Launched in 2002, Citadel Securities has a long track record of transforming markets by reducing trading costs, increasing transparency, and improving execution quality for retail investors.